Sydney house prices surged another staggering 3% in a single month

Home values across Australia’s capital cities increased by 1.4% in March, carried by a rebound in the Sydney market, according to the CoreLogic RP Data Home Value Index.

Sydney values recovered from a slowing of growth in December to be 3% higher over March, 5.8% up over the quarter and 13.9% over the year.

Tim Lawless, CoreLogic RP Data head of research, says the annual rate of growth across all the capital cities has moderated back to 7.4%, the slowest since September 2013.

Here are the details for each capital city:

“With stronger housing market conditions over the first three months of the year, annual home value growth across the Sydney market has rebounded after slowing to 12.4% in December 2014,” Lawless says.

Sydney is the only housing market where dwelling value growth remains in double digits. The next strongest performer, Melbourne, has an annual capital gain of 5.6%.